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Use of Cards Soars in the first 8 Months

Use of Cards Soars in the first 8 Months

The use of cards soared between January and August, figures released by JCC on Wednesday September 11 showed, while a significant increase was recorded in the eighth month of the year, the Cyprus News Agency reports.

During the first eight months of 2019, transactions with local cards in Cyprus recorded an annual increase of 17% rising to €2.62 bn, whereas a smaller increase of 8% was recorded in the use of local cards abroad, which stood at €1.24 bn.

Transactions with foreign cards in Cyprus also recorded a large annual increase of 15% in the first eight months of the year reaching €1.03 bn.

The use of local cards in Cyprus in August rose to €421.8 mn increasing by 6% compared with the same month last year. The use of local cards abroad increased by 13% annually and valued at €176.2 mn.

The use of foreign cards in Cyprus in the eighth month of the year rose by 12% on an annual basis reaching €175 mn.

Transactions with local cards in the Turkish occupied territories of Cyprus stood at €2.11 mn in August and at €14 mn between January and August.

The use of local cards in Turkey amounted to €725.228 in August and to €4 mn in the first eight months of 2019, while transactions with Turkish cards in Cyprus stood at €1.77 mn in August and at €11.4 mn from January to August.

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